TTM Technologies Inc. (TTMI) Reaches New 1-Year High at $10.67
TTM Technologies Inc. (NASDAQ:TTMI)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $10.67 and last traded at $10.57, with a volume of 498,985 shares trading hands. The stock had previously closed at $10.17.
TTMI has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on TTM Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, July 28th. JPMorgan Chase & Co. increased their price objective on TTM Technologies from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Friday, June 10th. Zacks Investment Research downgraded TTM Technologies from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. Finally, Needham & Company LLC increased their price objective on TTM Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.70.
The company has a market capitalization of $1.05 billion and a PE ratio of 58.60. The firm has a 50 day moving average of $8.25 and a 200 day moving average of $7.04.
TTM Technologies (NASDAQ:TTMI) last announced its earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.18 by $0.10. The company had revenue of $601.80 million for the quarter, compared to analysts’ expectations of $601.48 million. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. On average, analysts anticipate that TTM Technologies Inc. will post $1.08 EPS for the current year.
In other TTM Technologies news, EVP Tai Keung Chung sold 70,000 shares of TTM Technologies stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $10.46, for a total transaction of $732,200.00. Following the sale, the executive vice president now directly owns 100,758 shares in the company, valued at approximately $1,053,928.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenton K. Alder sold 36,823 shares of TTM Technologies stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $9.94, for a total value of $366,020.62. Following the sale, the director now owns 35,267 shares in the company, valued at $350,553.98. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the company. Paradigm Capital Management Inc. NY increased its stake in TTM Technologies by 3.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 3,450,179 shares of the company’s stock valued at $22,461,000 after buying an additional 107,800 shares in the last quarter. State of Wisconsin Investment Board increased its stake in TTM Technologies by 0.7% in the fourth quarter. State of Wisconsin Investment Board now owns 588,934 shares of the company’s stock valued at $3,834,000 after buying an additional 4,184 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in TTM Technologies by 0.6% in the fourth quarter. Bank of Montreal Can now owns 166,946 shares of the company’s stock valued at $1,087,000 after buying an additional 924 shares in the last quarter.
TTM Technologies, Inc is a provider of printed circuit board (PCB) products and backplane assemblies, which serve as the foundation of electronic products. The Company operates a total of 13 facilities in the United States and the People’s Republic of China (China). It manages operations based on two geographic operating segments: Asia Pacific, which consists of five PCB fabrication plants, and North America, which consists of seven domestic PCB fabrication plants, including a facility that provides follow-on value-added services primarily for one of the PCB fabrication plants, and one backplane assembly plant in Shanghai, China, which is managed in conjunction with its United States operations.
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